22 1. Identify the correct statement: red out of Statement 1 - It is not compulsory that the new partner bring capital at the time of admission Statement 2-The new partner bring capital at the time of admission only as cash 29 Question Only statement 2 is correct Only statement 1 is correct Both the statements are correct Both the statements are incorrect on 23 Mr Suhailand Mr Ahamar urma are numer nnnfit in on 24 it the amount due to a retiring partner is not paid off immediately, then that amount will be transferred to ered Retiring partner's loan account Retiring partner's asset account Retiring partner's cash account Retiring partner's capital account que 25 Valuation of assets and liabilities at the time of reconstitution of the partnership firm is called Marked out of 00 og gestion Resolution Relaxation Realization Revaluation Question 27 Dissolution by agreement of a firm takes place in the following cases: Not yet answered 1. As per the terms of partnership agreement Marked out of 1.00 II. When all the partners give consent to it. P Flag question Only 11 Both I and 11 Neither | nor 10 Only! in 28 28 Revaluation account is normally not debited with which of the following items Increase in the amount of liabilities increase in the value of assets Unrecorded abilities now recorded Decrease in the value of assets Question 30 Not yet Minimum number of person required to form a partnership is: answered Marked out of 1.00 12 5 Flag question 4